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Merton, Okehampton

South West

£599,000

Listed on 31/05/2026

Property Details

Bedrooms
3
Type
Detached
Area
1620 sqft

Description

Set in a tranquil rural area, this extended North Down Farmhouse boasts a generous 1.6 acres of land, bordered by picturesque gardens and countryside views. Within the home, three well-sized double bedrooms, two reception areas, and a farmhouse kitchen create a comfortable living space that has seen improvement previously. Its outdoor offerings include a paddock, a stream, various outbuildings including a large workshop/garage with potential for development (subject to planning). While currently equipped for modern family living, there exists further renovation potential to enhance the property’s character or to maximise its utility as an investment. Located down a private lane and close to local amenities in nearby villages and towns such as Great Torrington and Bideford, this is an opportunity for those looking for a project in a highly desirable area. The property is offered with no onward chain and has an EPC rating of 'E'.

Investment Analysis

(EX20 area)

Above Market Value

This property is priced +29.3% above area average per sq ft

+29.3%
This Property
£370/sq ft
Area Average
£286/sq ft
Avg Rent (weekly)
£211
Avg Yield
3.3%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£30,000 - £50,000
Target Value
£509,652
10% above area average per sq ft
Potential ROI
-21.5%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
24
Average per month
Market Turnover
7%
Properties sold annually

Local Market Trend (EX20)

Area prices are falling by -4.7% over the last 12 months
3 year growth: +0.2%
5 year growth: +7.0%
Investment Disclaimer: Analysis based on EX20 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Merton, Okehampton
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£2,263
Based on a loan of £449,250 over 30 years at 4.45% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

Stamp Duty Calculator

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